AFEX, Nigeria's commodities exchange and commodities market player, has announced its expansion into Kenya, following a successful pilot phase in the most diversified economy in East Africa.
ASIF promotes collective and concerted action by African sovereign wealth funds and strategic funds for the development and growth of the continent for a more resilient, inclusive, sustainable and self-reliant Africa.
[Column] Tobias Alando: What Kenya’s Intellectual Property Recordation Programme means for manufacturers
The growth in international trade, advances in technology, and changes in trading methods have come with new challenges that call for advanced strategies to effectively and efficiently combat illicit trade.
[East Africa Business Week] Bob Koigi: South Sudan remains a strategic player in the region’s petroleum industry
Owing to its strategic position at the heart of a wider Nile Basin-East Africa hydrocarbons-rich area, South Sudan is emerging as the hub for petroleum industry services and exploration in the region.
The Additional stake now takes Nigeria's shareholding to 15.8%, one-percentage point behind top shareholder Kenya, which currently stands at 16.85%.
Burundi, the Democratic Republic of Congo (DRC), and neighboring countries within the Great Lakes Region of Eastern Africa are set to benefit from the new Great Lakes Trade Facilitation and Integration Project.
To support local manufacturing and infrastructure development in Liberia, IFC announced a partnership with Fouta Cement, Liberia's second-largest cement supplier, to increase production and reduce Liberia's reliance on imported construction material.
[Column] Imane Charioui: Remittances play a defining role in binding migrants to their families back home
Currently, about one billion people in the world are involved with remittances, either by sending or receiving them – one in nine people are recipients of these flows of money sent by their family members who have migrated for work.
With plunging profits in its prized sector, oil and gas, and an ever-climbing inflation, Nigeria is increasingly turning to what most of the world has been blind to – the potential of women in business.
Africa’s B2B marketplace Sabi, has announced the appointment of four new advisory group members whose experience and networks will support Sabi in its mission to resource and grow SMEs in the informal sector.
Fast-growing businesses need to be supported by technology platforms that support their growth and expansion while keeping tight controls over financial and other core business processes.
The global technology research and consulting firm's latest Worldwide Quarterly PCD Tracker shows that an estimated 5.6 million units will be shipped across the region in Q2 2022.
The center will help Ghana transition into a circular economy.
The recent decision by the International Fund for Agricultural Development (IFAD) to open an office serving the East and Southern African regions is a pointer to the crucial role farmers play in the region play in the East African, continental and global food systems.
The Kingdom of Saudi Arabia seeks to enhance relations with countries in the Common Market for Eastern and Southern Africa by establishing new areas of investment and development through the COMESA Secretariat.
The three-year project (2022 – 2025) aims at promoting an investment-friendly and conducive business environment, strengthening the Libyan private sector and thus contributing to economic growth in Libya.
Grâce à la mise en œuvre d’une synergie au sein des filiales de la Région Afrique Atlantique de Bolloré Transport & Logistics, le démarrage des opérations d’empotage du coton malien en Mauritanie a connu un véritable succès.
[Column] Alexandra Fraser: Angel investors plugging the early-stage funding gap in sub-Saharan Africa
To fill the early-stage funding gap, the continent urgently needs more investors.
PayU, the online payment service provider operating in 50 emerging markets, has announced that it is strengthening its foothold in Africa with expansion into Ghana and a number of strategic product updates
Andersen Global has advanced its African coverage through a Collaboration Agreement with Ghana-based tax firm LIMA Partners.
The International Fund for Agricultural Development (IFAD) has officially opened its East and Southern Africa regional office to help the institution meet its goal of reducing hunger and poverty.
The African Development Bank and United Cities and Local Governments, a global umbrella group for local and metropolitan governments, have announced the launch of a new program to build the capacity of municipal chief financial officers across the continent.
[East Africa Business Week] Bob Koigi: Region bets on $91.5 million budget to drive economic integration
This week, the East African Community has tabled before the East African Legislative Assembly (EALA) the budget estimates for the 2022/2023 Financial Year totaling $91.5 million.
The M-PESA GlobalPay Visa Virtual Card will be exclusive for international, online payments outside the country to protect customers from incurring forex conversion costs on local online payments billed in Kenya Shillings.
IBM has announced it will provide in-kind grants valued at $5 million to help address cybersecurity resiliency in schools worldwide. For the second year in a row, six school districts in the United States will be awarded these grants.
The East African Community (EAC) has tabled before the East African Legislative Assembly (EALA) the budget estimates for the 2022/2023 Financial Year totaling $91,579,215.
The new phase of the relationship will promote digital innovation and technology as an enabler to connect the agriculture ecosystems, sustainably integrating stakeholders in the service of strategic value chains.
Pemo offers fast, transparent, and simplified invoice payment and expense management solutions, as well as smart corporate cards, for small and medium-sized enterprises (SMEs) in the region.
Research shows only 13% of organizations have a seamlessly integrated marketing and technology stack and brands rely on many different data sources to unlock customer insights.
World Bank Appoints Albert G. Zeufack as the new Country Director for Angola, Burundi, DR Congo and Sao Tome and Principe
Dr. Zeufack will lead the implementation of the World Bank’s program in the four countries, which includes an active portfolio of 84 national projects totaling $8 billion financed by the International Development Association.
TRADE X, a B2B cross-border automotive trading platform based in Ontario, Canada, announced it has opened a new office in Lagos, Nigeria, to help meet the growing demand for vehicles in Nigeria.
Global energy and commodity reporting agency, Argus, has introduced daily export-parity prices for LPG shipped from west Africa.
Chennai will join the vast Ethiopian network as a fourth destination in India after New Delhi, Mumbai and Bengaluru. Ethiopian started its service to India with a debut flight to New Delhi in 1966, just 20 years after the airline was founded.
As part of the second phase of the AfCFTA negotiations, a draft Protocol on Competition Policy was proposed by the AfCFTA Secretariat.
SONATRACH and Eni signed a Memorandum of Understanding (MoU), aimed at accelerating the development of gas fields in Algeria and decarbonisation via green hydrogen.
Nokia strengthens partnership with Microsoft to enhance performance at the mission critical industrial edge
Aimed to support industries including automotive, manufacturing, energy, logistics and government, the powerful combination will enable use cases by allowing customers to run applications in the traditional cloud, as well as directly on their premises.
To realize this, a fulltime position of an agro-logistics coordinator has been developed to coordinate the initiative.
The Africa Alliance for E- Commerce (AAEC) has renewed its partnership with West African Economic and Monetary Union (WAEMU) through an additional funding of 10 million CFA Francs this year to support the joint project between WAEMU-AAEC-AfDB.
West African companies have particularly been keen to expand their operations in the East African region. This has been through mergers, partnerships or takeovers.
Radisson Hotel Group has announced its arrival in South Sudan with the opening of Radisson Blu Hotel, Juba, the country’s first internationally branded 5-star hotel.
Global smartphone brand realme, defied international supply chain disruptions to make it to the list of top 5 handset makers with record shipments to Africa.
Africa’s urbanization rate has reached a record high with the continent being the most urbanized globally.
01Talent Africa and the local authorities accelerate digital transformation of Africa at Africities summit
01Talent Africa has been actively been involved in this year’s Africities Summit as it seeks to boost the skills of young people in the continent.
The first edition of the Africities Trade and Invest Forum (ATIF) took place during the second day of the ninth edition of the Africities Summit.
British International Investment partners with Citi to unlock supply chain finance for African businesses
The British International Investment (BII), signed a $100 million risk-sharing facility for supply chain finance with Citi, to provide systemic liquidity and help Citi grow its supply chain finance product across Africa.
UNDP calls for more investment in people-centered local governance structures that are responsive and inclusive
The COVID-19 pandemic and its impact on health and socio-economic structures show the fragilities in national systems and local communities' resilience in dealing with crises.
African youth in its wide diversity is under-represented in the decision-making process.
The plan seeks to avert a looming food crisis in Africa caused by Russia’s war in Ukraine.
During the 5 days, discussions will be held around the theme of the summit: “The role of intermediary cities in Africa in the implementation of the United Nations 2030 Agenda and the African Union Agenda 2063”. In line with the theme, Kisumu is the first intermediary city to host the event.
The recent entry of the Democratic Republic of Congo to the East African Community has heralded a new economic dispensation expanding the regional market.
Huawei is looking for the world's top ICT talent to support its strategy for innovation and building a greener intelligent world.
The working lab provides customers a hands-on environment to develop new ideas and create solutions leveraging technology from Oracle and more than 30 industry partners.
AFC has committed to funding up to 50% of the new African Economic Resilience Facility and mobilising the remainder through the Corporation’s network of international partners and investors.
Zambia and the Democratic Republic of Congo (DRC) has signed a historical cooperation agreement to facilitate the development of value chain in electric battery and clean energy sector.
This will increase the availability of high-performance and reliable Internet connectivity access across Africa, leveraging Liquid's 100,000km of terrestrial fibre across 12 countries.
ATEX is a digital trade platform which will complement the existing digital ecosystem constructed to support the implementation of the African Continental Free Trade Area (AfCFTA) Agreement.
Decklar Resources announced the commencement of the shipment of crude oil via trucks from the Oza Oil Field to the UPIL crude handling facilities.
The discussions also focused on the implementation of the EAC Single Customs Territory by the Republic of South Sudan to quicken the clearance of cargo at the Elegu/Nimule border.
Isuzu appoints Penelope Mkhwanazi as Senior Vice President: Revenue Generation for Africa and international markets
Penny's impressive work experience spans over 20 years in various industries such as manufacturing, mining, construction, fast-moving consumer goods, and entrepreneurship.
Liquid Intelligent Technologies has announced that it has entered into a definitive agreement to acquire Telrad, an Israeli-based technology company.
TymeBank, a digital bank in South Africa, looks to empower small and micro businesses to accept card payments, powered by Network International, an enabler of digital commerce across Africa and the Middle East.
4G Capital Group Limited, Citi, U.S. International Development Finance Corporation (DFC) and the Ford Foundation have partnered to expand financial inclusion in Kenya.
SouthBridge Group, the official financial advisor of the Togolese government, has announced two transactions with Olam International Limited and its subsidiary Arise Special Economic Zone.
MicroLoan Foundation has launched its latest campaign, EmpowerHer, in a bid to help 50,000 female entrepreneurs in Africa.
Afreximbank officially launched the operations of ‘MANSA’, a pan-African customer due diligence repository for financial institutions, corporate entities and SMEs, developed to address the perceived risk of doing business in Africa and with Africans.
To enhance efforts to combat the scourge of Illicit Financial Flows on the African Continent, the African Union through the Department of Economic Affairs, will launch a Multi-Donor Action to add to the existing mechanisms to stem the illicit outflows.
IFC, a member of the World Bank Group, has announced a finance guarantee facility to Union Bank to boost access to finance for local business, enable increased international trade for Nigeria and help protect the country’s economy.
Wasatch Global Investors has announced the appointment of Albert Trinkl, CFA, to the firm’s institutional business development team.
Consortium of global multilateral development banks calls for measures to support trade continuity in Sub-Saharan Africa
The Pulse check report issued by a consortium of multilateral development banks and trade research institutions, recounts the views of sub-Saharan banks on multi-lateral development banks’ responses to uphold a well-functioning trade finance market.
Global broking business Brokerslink has launched its dedicated iinternational insurance programme management platform to drive the continued growth and digitalisation of its international portfolio.
African Export-Import Bank (Afreximbank) and the Republic of Rwanda signed key documents related to the establishment of the Fund for Export-Development in Africa (FEDA), a development-oriented subsidiary of Afreximbank.
Growing adoption of digitization across the global banking sector is significantly boosting the use of advanced technologies including artificial intelligence according to the latest report by Research and Markets.
Airtel Tanzania has collaborated with WorldRemit, the global payments company to enable Airtel Money customers to send and receive money directly into their Airtel Money wallets from abroad.
Pan-African infrastructure financier, Harith General Partners has announced at its Annual Investors' Feedback meeting that Mr Sipho Makhubela has been appointed as its Chief Executive Officer.
The European Investment Bank and other multilateral agencies have signed an agreement with Development Partners International LLP (DPI) to become the first 2X Flagship Fund.
African Guarantee Fund has announced the appointment of Jules Ngankam as the new Group Chief Executive Officer.
Windward, the Predictive Intelligence company applying AI to transform global maritime trade, and Mauritius Commercial Bank Ltd have announced a long-term, multi-year partnership to enhance MCB’s due diligence and monitoring processes linked to its commodity trade finance business.
Vuna Partners Fund announced its acquisition of an 80% equity stake in 4PL Group Proprietary (4PL), with the remaining 20% shareholding held by the management of 4PL Group.
ITFC signs agreement with Tunisia government to mobilize $ 1.5 billion as part of it integrated trade solutions
The International Islamic Trade Finance Corporation (ITFC) has signed a framework agreement with the Government of Tunisia to increase trade flows and build trade capacity within the Republic.
The African Export-Import Bank (Afreximbank) announced Fitch Ratings has affirmed the Bank’s long-term Issuer Default Ratings (IDR) at ‘BBB-‘ with a stable outlook.
The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF), the concessional arm of the African Development Bank Group, have signed a loan agreement of 73.6 billion Japanese yen, approximately $668.1 million, to support the 15th replenishment of the African Development Fund.
Apex Group Ltd., a global financial services provider, has announced the final close of the acquisition of GFin Corporate Services Ltd. following regulatory approval from the Financial Services Commission.
The OPEC Fund for International Development (the OPEC Fund) approved $100 million in new funding to support development operations in Burundi, Nicaragua and Ghana.
Africa Finance Corporation, an infrastructure solutions provider in Africa, has announced the successful issuance of its inaugural CHF150 Million, approximately $162 million.
The African Export-Import Bank (Afreximbank) announced the appointment of Constantin von Moltke as Director of Syndications and Agency.
The European Bank for Reconstruction and Development (EBRD) is boosting trade in Morocco with a $20 million trade finance limit to Crédit Agricole du Maroc, a leading local bank.
Pan-African housing development financier Shelter Afrique has entered into a strategic partnership with the World Bank aimed at addressing the affordable housing crisis evident across the continent.
MFS Africa has announced a partnership with Moroccan mobile money provider inwi money, bringing smooth and affordable international digital money transfers and payments to Morocco.
Sola Yomi-Ajayi, the CEO of the United Bank for Africa (UBA)’s operations in the United States, has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on Sub-Saharan Africa for 2020/2021.
[Nigeria] Mastercard, NetPlusDotCom and Innovectives partner to enable MSMEs accept digital payments
Mastercard, NetPlusDotCom and Innovectives have announced a milestone in their partnership to provide micro, small and medium-sized enterprises (MSMEs) in Nigeria with digital payment tools.
Kenya's Capital Markets Authority (CMA) has granted a fund manager’s license to African Diaspora Asset Managers Limited.
As South Africa grapples with a looming financial crisis and eroding investor confidence, Holborn Assets (Holborn) has expanded its wealth management offering.
Temenos, and Alibaba Cloud have announced that Temenos Transact, its next generation core banking product is now certified on Alibaba Cloud.
African Export-Import Bank (Afreximbank) has disbursed $200 million to Zenith Bank Plc Nigeria under its Pandemic Trade Impact Mitigation Facility (PATIMFA).
Mastercard and Zimswitch, Zimbabwe’s national payment switch, have partnered to enable the modernization of Zimbabwe’s payment infrastructure, using Mastercard’s technology, products and services.
The World Bank approved $750 million financing to improve the movement of people and goods, digital connectivity and access to social services for over 3.2 million people living in Kenya's North Eastern region
Brazilian investors have expressed interest in Mozambique’s agribusiness, given the agro-ecological potential and the promising opportunities that the country offers in this sector.
Global credit rating agency AM Best has affirmed the Financial Strength Rating of B++, Good, and the Long-Term Issuer Credit Rating of “bbb+” of gig Insurance - Egypt S.A.E.
Software Group, a global software company with its regional head office in Nairobi, has won a new contract for its latest Agency Banking platform with BRAC Uganda Bank Ltd, a prominent financial institution in Uganda.
The Islamic Republic of Mauritania has signed the Agreement for the Establishment of the Fund for Export-Development in Africa (FEDA), a development impact-oriented subsidiary of the Afreximbank.